Slowdown! Home Prices in 20 U.S. Cities Post Smallest Gain In 11 Months (Dow 30 Enters Overbought Zone)

Slowdown!

The Case-Shiller home price indices are out for July.  And US home prices rose 6% YoY. With Washington DC remaining the slowest growing metro area in the US in term of home prices (with Las Vegas NV as the fastest growing).

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Yes, home price growth nationally is slowing down to the lowest in eleven months.

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And on the stock market front, the Dow Jones Industrial Average might have run too far, too fast, according to one technical signal. The GTI Global Strength Indicator, which measures upward and downward movements of successive closing prices, entered overbought territory last week and remained there at the start of the current one. The benchmark shed 181 points to close at 26,562 on Monday after gaining 2.25 percent over five days through Sept. 21, its best performance since the week ending July 13.

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Investors will be pleading for the Federal Reserve to not let them down.

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